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Undeclared cash dividends in noncumulative preference shares are: * O Recognized as liabilities Recognized as contingency and be disclosed in the notes to the financial statements Recognized as contingency but would not be disclosed in the notes to the financial statements Should be ignored

Undeclared cash dividends in noncumulative preference shares are: * O Recognized as liabilities Recognized as contingency and be disclosed in the notes to the financial statements Recognized as contingency but would not be disclosed in the notes to the financial statements Should be ignored

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Undeclared cash dividends in noncumulative preference shares are: Recognized as liabilities Recognized as contingency and be disclosed in the notes to the financial statements Recognized as contingency but would not be disclosed in the notes to the financial statements Should be ignored
Transcribed Image Text:Undeclared cash dividends in noncumulative preference shares are: Recognized as liabilities Recognized as contingency and be disclosed in the notes to the financial statements Recognized as contingency but would not be disclosed in the notes to the financial statements Should be ignored
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